Security Alert: Look Out for Fraudulent CFPB Emails

The email claims that the CFPB is conducting a furnisher compliance audit to assess adherence to reporting standards, data accuracy, and information security practices. It claims businesses have three days to comply with the request, and it includes a clickable link.

A telltale sign that this email is a phishing scam is that the sender's email domain does not match the CFPB domain. Additionally, with the government shutdown still in effect, it is highly unlikely that dealers would receive communications from a government agency at this time. 

This phishing attempt follows a common practice with scammers relying on urgency and timing to pressure recipients into clicking quickly. These e-mails are not legitimate and may be designed to steal sensitive information or install malware.

Please be extra cautious of any emails you are not expecting. Dealers should always verify the sender's email domain before clicking any links or responding. If an email appears suspicious, do not click on any links or attachments and do not reply, forward, or share personal information. When in doubt, dealers should call the organization directly to confirm the legitimacy of any communication like this. 

Also, please note that the CFPB will never ask for personal or account information by e-mail.

Sources: ComplyAuto, an NHADA DIAMOND Partner; NIADA